| The most important questions in life begin with | | | | servicing, and client interaction. The truth is if the |
| "why". Too many people get caught up in the how | | | | agents on your team already possessed those skills, |
| of reaching the goal. They spend little time focusing | | | | they would not be interested in joining your team. |
| on the clarity of the why. Why we want something | | | | They would be successful on their own. |
| is clearly the power source. If the why is large | | | | 3. Stability of income |
| enough, the how becomes easy. We often focus on | | | | Agents will often build teams to try to help smooth |
| the wrong end of the equation. Why do you want to | | | | out the swings in income that happen in the real |
| be financially independent? Why do you want to build | | | | estate business. They feel that if they had a few |
| a real estate sales business to a large scale? Why do | | | | buyer's agents, their income would be more |
| you want a team? Why does a team connect with | | | | consistent from month to month. One of the battles |
| your life goals? What will a team provide for you? | | | | for most agents is the feast or famine nature of |
| I don't think there are hundreds of whys in our life. I | | | | their practice. They have a couple of stellar income |
| think we have a handful of whys that interconnect | | | | months followed by a couple of months of low |
| our goals and dreams. This small handful of whys | | | | income and/or no income. These income cycles make |
| creates the power source in our life to become a | | | | it difficult for most agents to control their cash flow, |
| Champion Lead Agent, Champion Parent, or | | | | spending, and savings. It causes agents to over |
| Champion Spouse and creates a Champion Legacy | | | | spend in the good months and have limited funds left |
| for our life. | | | | for the bad months. |
| Your individual reasons for wanting to build a team | | | | 4. Leverage |
| might not fall into these top five. These are the | | | | Having people working with you for a common goal |
| reasons that I hear from agents frequently as to | | | | or common sales production creates leverage. The |
| why they want to build a team. I have not listed | | | | ability for sales to be made without your personal |
| them in order or frequency. I merely selected the | | | | effort creates leverage. |
| top five responses. | | | | I remember my father, who was a dentist, always |
| 1. To increase their income. | | | | working to balance his time off with his practice |
| This increase of income is determined through gross | | | | needs and income needs. When we went to Hawaii |
| revenue. Many lead agents who are trying to build a | | | | as a family every Christmas for a week to ten days, |
| team for the first time increase their gross revenue, | | | | he didn't make any money. In fact, he lost money. |
| but they often don't increase their net revenue. | | | | There wasn't any drilling, filling, or billing taking place |
| Agents want to expand their team to increase the | | | | while he was gone. The fixed costs of his mortgage |
| dollars in their pocket, but most who are in the early | | | | on his office building still needed to be paid, however. |
| stages only increase their gross revenue. I personally | | | | His staff still received their salaries even when new |
| have coached hundreds of agents who started to | | | | revenue wasn't created. Most singular agents still |
| build a team before I began coaching them. When | | | | have overhead and expenses (both business and |
| we looked at the costs, revenues, time invested, and | | | | personal) to cover while they are away. A team will |
| net profit of their first attempt at building a team, | | | | soften the net loss blow or even allow you to turn a |
| they netted less per month than when they were a | | | | small profit while you are resting and relaxing. |
| singular agent on their own. | | | | 5. Ability to do only what they want to do |
| 2. Quality of life | | | | This reason takes a number of different forms. The |
| The desire to move away from being an agent in | | | | most prevalent is the "I don't have to prospect |
| demand to an agent in command is a great objective. | | | | anymore" philosophy. Many lead agents want to build |
| Having a practice that allows you to control your | | | | a team, so they don't ever have to prospect again. |
| schedule, so you have more normal business hours is | | | | Too often, the things they want to delegate to |
| a wonderful goal. Being an agent in demand who is at | | | | others are the activities that they, quite frankly, need |
| the beck and call of your clients and prospects | | | | to continue to do. |
| doesn't make for a very good quality of life. Having | | | | Too often, these lead agents who are trying to build |
| to return calls and meet clients at night and on the | | | | a team view the role of a team leader or owner of a |
| weekends will lead to burnout and family resentment | | | | company as the person who gets to put their feet |
| for the career you have chosen. | | | | up on the desk. My experience is that the owner of |
| An agent in command of their schedule, lead | | | | a well-run company is probably the hardest working |
| generation, client service systems, and accessibility is | | | | person in the company. If your desire is to put your |
| more easily achieved through the team format. That | | | | feet up, I would encourage you to re-think your |
| is provided you have the skills, abilities, and systems | | | | philosophy. You might be able to pull back when you |
| at a reasonable level when building your singular | | | | have refined your team to the Champion's edge. Until |
| agent's practice. | | | | you arrive there, however, you will be the hardest |
| As the lead agent, you will also need to train your | | | | worker if your desire is to build a Champion Team. |
| other agents to command their value, schedule, | | | | |